Your business is like your own child, and you would never want any unfortunate event to befall it. However, focusing only on the business operations wouldn’t cut it; there are a myriad of other factors that can harm your business. And mistakes made while looking for office space for rent are one of them.
Having your own office space is an essential aspect of a business. There are a plethora of factors to consider while choosing your office space, with monthly rent and location playing a major role in it along with many others. Although you might not see a lot of problems initially in your rented space, there are always possibilities for them to arise later on when you begin using the workspace.
Mistakes of this type can hit any business pretty hard. But you’ve got nothing to worry about because in this blog we will provide you with guidelines that will help you choose your perfect office space for rent while avoiding any and all blunders.
Rent is the most significant factor and expense for any kind of business. While looking for office space for rent in prime locations, you generally need to pay more, and finding a space at a low cost is rare, so you’ll end up deciding to prioritize quality over price or the other way around.
Having a centrally located office is definitely an advantage for a business, especially if it is in the business hub of a city. These places would be accessible and in close proximity to public transport.
This will help your business gain more exposure and accelerate its growth than it would have at a remote location. However, the prices for such workspaces tend to soar because of their high demands, which then becomes pretty evident in the rents of office spaces located there.
Also Read: Types of Coworking Membership Plans
2. Poor Infrastructure
Businesses often end up choosing workspaces with poor infrastructure; this mostly happens due to budget constraints. Having extra funds in your hands might seem like a good idea, but compromising on infrastructure can be harmful.
A cheap workspace will mostly consist of lower-quality utilities. Though initially it might seem like you’re saving money, in the long run you would likely end up spending way more on maintenance since cheap infrastructure requires more frequent repairs.
And after spending money on multiple repairs, you’d ultimately end up spending even more money than you’d originally planned.
While looking for office space, keep in mind that having superior infrastructure is imperative for a business. It not only reduces any overhead maintenance costs but also improves the productivity of your employees. Not to mention, the sleek, modern interiors would definitely please your clients as well as your employees.
3. Being Inflexible
Dealing with unexpected changes in business is quite common, irrespective of whether they are favorable or unfavorable. In situations like these, it is necessary that your business plans be modified and adapted to the changes.
It is essential that your rented office space is able to withstand any changes required as your business grows, for instance, being able to accommodate newly hired staff or extra space for new office equipment.
When you are looking for office space for rent, make sure that there is enough room for alteration so you don’t have to rent additional space or entirely relocate in the future, since neither of those options would be favorable for a business and it would always end with you losing money.
Not to mention the cost of logistics required for the shifting process is pretty expensive, so it is favorable to have enough space for expansion.
However, keeping extra space isn’t a feasible option and could prove to be a waste of money as well as space, so if you do decide to keep extra space, make sure to utilize it effectively so it doesn’t go to waste.
4. Not Considering the Surroundings
While finalizing office space for rent, sometimes people tend to overlook the surrounding atmosphere, a factor that has a direct influence on your business. Although initially it might not be as evident, the surroundings of your workspace can have long-term effects on your business; hence, it is essential that the surroundings are well-suited to your office.
To put it simply, your office space should be enclosed by similar or other compatible businesses. For instance, in a business hub, you’d get the chance to connect with other like-minded people, which would help your business grow through the connections you form over time. Whereas, imagine an IT office being surrounded by clothing outlets, restaurants, or beauty salons; it would end up blocking the vision of both the employee and employer and wouldn’t make for any good connections either.
The employees also get to connect with other professionals, and it is through these connections that they get the opportunity to develop their skills and knowledge, share ideas, learn about new trends, and much more. This helps them stay updated, whereas an office space in an isolated space would halt this development.
5. Thinking About Desk Space Only
This is a common mistake made by numerous businesses. They tend to utilize the office desk space to the fullest but end up forgetting about the other tasks that do not require desks, such as presentations, team meetings, and training workshops. These events and gatherings require fully equipped, dedicated spaces that meet all their requirements and include all the amenities.
It is also essential to have a refreshment zone where employees can unwind and take time off from work whenever they need it.
All these facilities should be taken into account while looking for an office space for rent. These amenities bring a professional atmosphere to the office and help create a comfortable work environment.
Just sitting at the designated desks and continuously working the entire day can negatively affect an employee’s efficiency; even the constant view of the working desk can make the work seem overwhelming.
The office space should be a place of comfort for the employees, with a positive atmosphere that boosts their mood, enhances their productivity, and ultimately helps the business grow.
Also Read: What Are Private Cabins as Workspace?
6. Being Adamant for Location
When considering office space for rent, it’s crucial to explore the benefits of office space for rent in different locations. Determining early on whether your business needs a central location can have a substantial impact on your finances. While centrally located office spaces can indeed offer advantages to businesses, it’s worth noting that some businesses can operate efficiently from a remote location.
However, proximity to your industry can often provide significant benefits of office space for rent. For example, if your company operates in the agricultural sector, having offices close to rural or agricultural regions might prove more advantageous.
Consequently, conducting thorough research when searching for office space for rent in suitable locations becomes even more critical. Many individuals are inclined to compromise on the size of their office space in favor of a prime location. Unfortunately, prime locations often come with high rental costs, which can negatively impact your budget. Even after investing a substantial amount, you might end up with a small office space that lacks essential facilities, potentially hindering your business’s long-term growth prospects.
So, understanding the benefits of office space for rent in various locations is essential for making a well-informed decision that aligns with your business’s goals and budget.
Also Read: Complete Office Relocation Checklist
7. Inflexible Contracts
Inflexible contracts are those with little to no terms, and signing one for a business can prove to be a big loss. These terms are as binding as shackles and chains and usually include a lock-in period as well. You are generally not allowed to call off the contract when needed.
There might be a time when you need a bigger space for your business, but such contracts do not allow you to leave the space. This coerces you to either adjust to the existing space or just rent another space, which in turn would make you pay rent for two places.
There are several other terms that could harm your business growth, one of which is a hike in rent. Some contracts don’t allow any type of alterations in the space, which prevents you from designing or redesigning the office space as you need it.
To prevent yourself from becoming entrapped by the constraints of such unbending contracts while looking for office space for rent, make sure to thoroughly go through the contract before signing it because sometimes it is worth compromising the space rather than giving any commitment to an inflexible contract.
By spending time doing better research, you can avoid all the mistakes mentioned above. The majority of these mistakes are the consequence of negligence, which can be easily avoided if you are more attentive.
This list can save you from any further disasters and help you avoid some, which is essential; after all, all successful businesses have grown by avoiding these mistakes.
And if you wish to avoid these mistakes all together, your best option is to go with a coworking space instead. It’s a less expensive way that helps you prevent making such blunders. With coworking spaces, you don’t need to spend time searching for locations or solving any problems since these dynamic workspaces take the burden of finding a flexible workspace off your shoulders.
Coworking spaces provide the best services at affordable prices. Also, the cost of coworking membership plans is way less when compared to the expenses of renting an office space, and in addition to this, you also get access to numerous facilities and top-notch amenities.
Stylework is a leading coworking space aggregator known for providing flexible, unconventional workspace solutions at affordable prices. So, if you are looking for your ideal workspace, connect with us today and experience the best coworking has to offer.